Frasers Group raises Hugo Boss stake, now controls over 25 percent of voting rights

British retail group Frasers Group Plc has further increased its stake in Hugo Boss AG. It now directly holds over 25 percent of the voting rights.

The parent company of the retail chains Sports Direct, Frasers and Flannels crossed the 20 percent threshold on June 12. The company crossed the 25 percent threshold of voting rights from shares in the Metzingen-based fashion group, Hugo Boss announced this on Friday. Through sold put options, Frasers Group currently holds financial instruments relating to 22.5 million Hugo Boss shares. This corresponds to around 32 percent of the fashion company's total capital.

Frasers Group supports the improvement of Hugo Boss AG's capital efficiency. This is in line with long-term, value-oriented corporate management, according to the announcement. According to Frasers, the executive board and supervisory board of the group behind the Boss and Hugo lines should focus on increasing shareholder value. This should be done by increasing the share price, rather than distributing dividends. Hugo Boss could use these retained funds for "other value-enhancing measures". These would improve long-term growth and financial flexibility.

This announcement follows Michael Murray's appointment to the supervisory board of Hugo Boss AG in May. Murray is the CEO of Frasers Group. Frasers had already further increased its stake in April.

This article was translated to English using an AI tool.

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